Acadian Asset Management LLC Has $2.40 Million Stake in Biogen Inc. $BIIB

Key Points

• Acadian Asset Management LLC increased its holdings in Biogen Inc. by 448.7% in Q1, owning a total of 17,557 shares valued at $2.40 million.
• Several institutional investors, including Sumitomo Mitsui Trust Group Inc. and Motley Fool Asset Management LLC, also raised their stakes in Biogen during the same period, indicating strong institutional interest.
• Biogen recently posted earnings of $5.47 per share, surpassing analysts' estimates, with quarterly revenue of $2.65 billion, up 7.3% year-over-year.

Acadian Asset Management LLC lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 448.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,557 shares of the biotechnology company's stock after purchasing an additional 14,357 shares during the period. Acadian Asset Management LLC's holdings in Biogen were worth $2,401,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of BIIB. Vanguard Group Inc. increased its stake in shares of Biogen by 1.7% in the first quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company's stock valued at $2,330,774,000 after purchasing an additional 283,964 shares during the period. Invesco Ltd. increased its stake in shares of Biogen by 6.4% in the first quarter. Invesco Ltd. now owns 2,265,007 shares of the biotechnology company's stock valued at $309,944,000 after purchasing an additional 136,200 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Biogen by 33.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,533,813 shares of the biotechnology company's stock valued at $234,551,000 after purchasing an additional 381,122 shares during the period. AQR Capital Management LLC increased its stake in shares of Biogen by 153.6% in the first quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company's stock valued at $187,258,000 after purchasing an additional 829,150 shares during the period. Finally, Amundi increased its stake in shares of Biogen by 8.1% in the first quarter. Amundi now owns 1,315,947 shares of the biotechnology company's stock valued at $172,007,000 after purchasing an additional 98,957 shares during the period. Institutional investors own 87.93% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on BIIB shares. Citigroup raised their price objective on shares of Biogen from $125.00 to $135.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. HC Wainwright raised their price objective on shares of Biogen from $187.00 to $194.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Needham & Company LLC reiterated a "hold" rating on shares of Biogen in a research note on Thursday, September 4th. Morgan Stanley lowered their price objective on shares of Biogen from $146.00 to $144.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Finally, Royal Bank Of Canada raised their price objective on shares of Biogen from $208.00 to $219.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Ten investment analysts have rated the stock with a Buy rating and twenty-one have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Biogen currently has an average rating of "Hold" and a consensus price target of $181.65.

Insider Activity

In related news, insider Priya Singhal sold 517 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total value of $69,045.35. Following the sale, the insider owned 5,772 shares of the company's stock, valued at $770,850.60. The trade was a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Rachid Izzar sold 2,223 shares of the company's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total transaction of $300,105.00. Following the completion of the sale, the insider directly owned 6,330 shares in the company, valued at approximately $854,550. The trade was a 25.99% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Biogen Stock Performance

Biogen stock traded down $1.31 on Friday, reaching $142.50. 3,748,505 shares of the stock were exchanged, compared to its average volume of 1,491,378. The stock has a market cap of $20.89 billion, a PE ratio of 13.62, a PEG ratio of 1.13 and a beta of 0.11. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $200.37. The firm has a fifty day moving average price of $135.01 and a two-hundred day moving average price of $130.92.

Biogen (NASDAQ:BIIB - Get Free Report) last released its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, topping analysts' consensus estimates of $3.93 by $1.54. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the previous year, the business earned $5.28 EPS. The business's revenue was up 7.3% on a year-over-year basis. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Sell-side analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.